Fintel reports that on August 9, 2023, Rosenblatt reiterated coverage of Luminar Technologies Inc - (NASDAQ:LAZR) with a Neutral recommendation.
Analyst Price Forecast Suggests 78.96% Upside
As of August 2, 2023, the average one-year price target for Luminar Technologies Inc - is 12.01. The forecasts range from a low of 4.54 to a high of $19.95. The average price target represents an increase of 78.96% from its latest reported closing price of 6.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Luminar Technologies Inc - is 119MM, an increase of 118.30%. The projected annual non-GAAP EPS is -0.65.
What is the Fund Sentiment?
There are 419 funds or institutions reporting positions in Luminar Technologies Inc -. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to LAZR is 0.10%, a decrease of 0.40%. Total shares owned by institutions increased in the last three months by 8.90% to 156,298K shares. 
The put/call ratio of LAZR is 0.79, indicating a bullish outlook.
What are Other Shareholders Doing?
G2VP I Associates holds 10,599K shares representing 2.80% ownership of the company. No change in the last quarter.
Macquarie Group holds 7,745K shares representing 2.05% ownership of the company. No change in the last quarter.
WSTRX - Ivy Science and Technology Fund Class R holds 7,069K shares representing 1.87% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,979K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 6,970K shares, representing an increase of 0.13%. The firm increased its portfolio allocation in LAZR by 21.22% over the last quarter.
Moore Capital Management holds 6,939K shares representing 1.84% ownership of the company. In it's prior filing, the firm reported owning 4,400K shares, representing an increase of 36.59%. The firm increased its portfolio allocation in LAZR by 83.69% over the last quarter.
Luminar Technologies Background Information
(This description is provided by the company.)
Luminar is an autonomous vehicle sensor and software company with the vision to make self-driving safe and ubiquitous by delivering the only lidar and perception platform that meets the industry's stringent performance, safety, and economic requirements. Luminar has rapidly gained 50 industry partners, including 7 of the top 10 global automotive OEMs, and has received minority investments from the world's largest commercial vehicle manufacturer, Daimler Truck AG and Volvo Cars, a global leader in automotive safety, to bring autonomous trucks and cars to highways, respectively. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. In August 2020, Luminar announced that it has entered into a definitive agreement to merge with Gores Metropoulos, Inc., a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC.
Additional reading:
- LUMINAR TECHNOLOGIES, INC. EXECUTIVE INCENTIVE BONUS PLAN
- DEFINED CONTRIBUTION PLAN (PROFIT SHARING/401(K) PLAN) A FIDELITY PRE-APPROVED PLAN Adoption Agreement No. 001 For use With Fidelity Basic Plan Document No. 17
- Luminar Reports Strong First-Quarter 2023 Business Update and Financials Revenue Exceeds High End of Guidance; High-Volume Factory Ahead of Guidance; Automakers Expand with Luminar
- Amended and Restated Bylaws of Luminar Technologies, Inc. (as amended on March 17, 2023).
- Filing Fe
This story originally appeared on Fintel.
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